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wariber [46]
3 years ago
8

Merritt Equipment Company sells computers for $1,360 each and also gives each customer a 2-year warranty that requires the compa

ny to perform periodic services and to replace defective parts. During 2017, the company sold 860 computers on credit. Based on past experience, the company has estimated the per unit 2-year warranty costs as $40 for parts and $60 for labor. (Assume sales all occur at December 31, 2017.)In 2018, Merritt incurred actual warranty costs relative to 2017 computer sales of $10,000 for parts and $15,000 for labor.Under the expense warranty approach, give the entries to reflect the above transactions (accrual method) for 2017 and 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Business
1 answer:
kozerog [31]3 years ago
4 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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Individual Retirement Accounts (IRAs) are very popular because ______. a. They include a large variety of stock options b. They
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Backflush costing is a costing method that: Charges current production costs directly to finished goods inventory. Charges curre
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Answer:

Charges current production cost directly to work-in-process inventory

Explanation:

The blackflush costing is the costing method in which the present cost of production would be charged to the work in process inventory in a direct way

Therefore as per the given situation the second option is correct

ANd, the rest of the options are wrong as it does not meet the criteria

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The largest country in the eu, in terms of population,
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4 years ago
Younie Corporation has two divisions: the South Division and the West Division. The corporation's net operating income is $95,40
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Answer:

$122,500

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8 0
3 years ago
The mean cost of a meal for two in a mid-range restaurant in Tokyo is $40 (Numbeo website, December 14, 2014). How do prices for
natali 33 [55]

Answer:

a. 2.13. b. (30.53, 34.79). c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.

Explanation:

The size of the sample is 42 and the mean of the sample is ∑x_{i}n = 32.66 and the standard deviation of the sample (σ) is √[∑(x_{i}-μ)^2 - 1] = √46.6092 = 6.8271

a. α = 1 - (95/100) = 0.05; α/2 = 0.025; the degree of freedom = n-1 = 42-1 = 41; tα/2 = t0.025 = 2.02. Thus, the error margin = (tα/2)*(σ/√n) = 2.02*(6.83/√42) = 2.1279

b. Lower level limit = 32.66 - 2.1279 = 30.5321; Upper level limit = 32.66+2.1279 = 34.7879. The interval estimate = (mean± margin of error) = (30.53, 34.79).

c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.

3 0
3 years ago
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